Thursday, July 27, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft pays up to $250,000 for Windows 10 bugs
Foxconn Announces U.S. Manufacturing Plant in Wisconsin
Facebook has more that 2 billion users, profit and revenue soar
Meizu Announces New Dual-screen Pro 7 and Pro 7 Plus Smartphones
Kaspersky Lab Launches Free Antivirus Software
Nintendo's Earnings Boosted by Switch Console Sales
GPUs and Ryzen Processors Help AMD's Financial Figures
Razer Tiamat Flagship Headsets Released
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Lenovo ...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, February 16, 2017
Lenovo 3Q Profit Fell On Weak Macroeconomic Environment


Lenovo Group Ltd on Thursday posted a 67 percent slide in third-quarter net profit, as supply constraints and a weak macroeconomic environment weighed.



Profit fell to $98 million over the three months through December, from $300 million in the same period a year earlier. The company'srevenue fell 6 percent to $12.2 billion.

Component supply constraints across the industries in which Lenovo operates impacted performance, in addition to a challenging macro environment and global markets, the company said.

Despite the slow PC sales, Lenovo saw its core PC business book 2 percent revenue growth to $8.6 billion, reversing a seven-quarter downward trend. Shipments rose 2 percent to 15.7 million units, helped by a 5 percent rise in commercial PCs.

"Despite ongoing macro-economic uncertainties and the two new businesses still in transition, Lenovo delivered a solid performance last quarter," said Yang Yuanqing, Lenovo Chairman and Chief Executive Officer. "Our PC business remains strong, our Mobile business has made steady progress, and our Data Center business now has a clear improvement plan in place. Although it takes time to build the core competence in these two new growth engines, we are confident to achieve breakeven and profitable growth in them."

Lenovo also saw strong growth in tablets, up ten percent year-over-year, outperforming the market by 29 points, as well as significant year-over-year increases in high-growth product lines such as gaming PC (up 71 percent), Chromebook (up 76 percent ), and detachables (up 91 percent).

Shipments in its mobile phone unit fell 26 percent, though that represented improvement since the first quarter.

For Lenovo's Data Center Group (DCG), which includes servers, storage, software and services, sales in the third fiscal quarter were US$1.1 billion, down 20 percent year-over-year, and three percent quarter-to-quarter.



Previous
Next
Seagate Introduces Game Drive for Xbox Halo Wars 2 Special Edition        All News        ZTE to Unveil The Gigabit Phone at Mobile World Congress 2017
Samsung Chief Arrested     General Computing News      Yahoo Unveils New Malicious Activity To User's Accounts

Get RSS feed Easy Print E-Mail this Message

Related News
Lenovo Introduces New Star Wars Augmented Reality Headset
HP Takes Back PC Shipment Crown from Lenovo
Lenovo Launches Expanded Data Center Portfolio
New $179 Moto E4 Plus has a 5,000 mAh Battery
Lenovo Returns to Profitability
Lenovo Unveils New IdeaPad Laptop Family
Part Laptop, Part Tablet, The Lenovo Flex 11 Represents a New Generation of Chromebooks
Lenovo Makes Pro Virtual Reality Accessible With the ThinkStation P320
MWC: Lenovo Showcases The Detachable Miix 320, New Yoga 720 and 520 Convertibles And The Tab 4 Series
New Budget-friendly Moto G5 and G5 Plus Come With Metal Designs
Lenovo Announces New Low Temperature Solder PC Manufacturing Process
Lenovo Showcases New Products and a VR-ready Mobile WorkstationAt SOLIDWORKS World 2017

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .